SAN DIEGO, Jan. 18, 2019 /PRNewswire/ -- Biocept, Inc.
(NASDAQ: BIOC) ("Biocept" or the "Company"), a leading commercial
provider of liquid biopsy tests designed to provide physicians with
clinically actionable information to improve the outcomes of cancer
patients, today announced it has entered into a securities purchase
agreement with certain accredited institutional investors to
purchase approximately $2.2 million
of its common stock in a registered direct offering. The purchase
price for one share of common stock will be $2.25.
Under the terms of the purchase agreement, Biocept has agreed to
sell approximately 990,000 shares of its common stock. The gross
proceeds to Biocept from the registered direct offering is expected
to be approximately $2.2 million
before deducting the placement agents' fees and other estimated
offering expenses. The registered direct offering is expected to
close on or about January 23, 2019,
subject to the satisfaction of customary closing conditions.
Maxim Group LLC is acting as the lead placement agent and Dawson
James Securities, Inc. is acting as co-placement agent in
connection with the offering.
The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-224946), which was
declared effective by the United States Securities and Exchange
Commission ("SEC") on May 24,
2018.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. A
prospectus supplement relating to the shares of common stock will
be filed by Biocept with the SEC. When available, copies of the
prospectus supplement relating to the registered direct offering,
together with the accompanying prospectus, can be obtained at the
SEC's website at www.sec.gov or from Maxim Group LLC, 405
Lexington Avenue, New York, NY
10174, Attention: Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3745.
About Biocept
Biocept, Inc. is a molecular diagnostics company with
commercialized assays for lung, breast, gastric, colorectal and
prostate cancers, and melanoma. The Company leverages its
proprietary liquid biopsy technology to provide physicians with
clinically actionable information for treating and monitoring
patients diagnosed with cancer. Biocept's patented Target
Selector™ liquid biopsy technology platform captures and analyzes
tumor-associated molecular markers in both circulating tumor cells
(CTCs) and in circulating tumor DNA (ctDNA). With thousands of
tests performed, the platform has demonstrated the ability to
identify cancer mutations and alterations to inform physicians
about a patient's disease and therapeutic options. For additional
information, please visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
This press release contains forward-looking statements that are
based upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance that such expectations and assumptions will prove to
be correct. Forward-looking statements are generally identifiable
by the use of words like "may," "will," "should," "could,"
"expect," "anticipate," "estimate," "believe," "intend," or
"project" or the negative of these words or other variations on
these words or comparable terminology. To the extent that
statements in this release are not strictly historical, including
without limitation statements as to our ability to close the
offering and the gross proceeds from the offering, such statements
are forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to
numerous risk factors as set forth in our SEC filings. The effects
of such risks and uncertainties could cause actual results to
differ materially from the forward-looking statements contained in
this release. We do not plan to update any such forward-looking
statements and expressly disclaim any duty to update the
information contained in this press release, except as required by
law. Readers are advised to review our filings with the SEC, which
can be accessed over the Internet at the SEC's website located at
www.sec.gov.
Contact:
LHA Investor Relations
Jody
Cain
Jcain@lhai.com
310-691-7100
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SOURCE Biocept, Inc.